Health Insurance Renewal

Health Insurance is a protection offered against any financial losses incurred due to sudden medical fallouts. With the increasing medical costs and higher exposure to diseases, it has become a necessity for everyone to stay financially and mentally prepared for circumstances that might affect their health.

Renewing Health Insurance

Once you buy a policy, it is also important to get a Health insurance renewal at the end of the policy tenure, in order to keep the cover going. Most of the leading health insurance providers offer online renewal.

While renewing your policy can have a lot of benefits including No-Claim Bonuses, Loyalty discounts, and Cashless facilities, you can also choose to stay with your current health insurance provider or switch to one offering better terms at the time of renewal. Under IRDA guidelines, ‘insurance portability’ allows you to switch over from one insurer to another without having to go through the waiting periods all over again, and also without losing out on any renewal benefits.

Remember

It is important that you renew your health insurance policy before it expires, preferably within 15 days prior to the expiry date. However, in extreme cases, the Health insurance renewal can be made within a grace period of about 15 days from the date of expiry.

Why renew your policy online with Policyfy?

Renewing your policy online not only saves you a lot of time but also gives you the flexibility of payment via a range of options. Health insurance renewal is a simple and quick process with Policyfy, and takes just a couple of minutes and a few clicks to complete. There are just four simple steps to be followed –

  • Provide your basic details relating to the policy such as the policy number and date of expiry.
  • Fill in the requisite information required to process your request.
  • Make the payment through online payment options, including debit/credit card, Net banking, or mobile wallets.
  • After authorization of the payment, you will be issued a digitally signed copy of the policy, which can be printed anytime, while the hard copy will be mailed simultaneously, taking no more than 15 working days to reach your correspondence address.
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